Dinar on Sale for $975 (shipped)!!

FedEx shipping included (CONUS only) with purchase – ONLY $975 per million. If you would like to buy (or sell) Dinar, please call 615-509-6256 (or text) or e-mail us at DinarUpdates@icloud.com

Signing ceremony for agreements and memoranda of understanding between Iraq and France, under the auspices of the Prime Minister and the French President

Prime Minister Ali Faleh al-Zaidi and French President Emmanuel Macron oversaw the signing ceremony on Monday of six memoranda of understanding between Iraq and France in a number of sectors, where Foreign Minister Fuad Hussein signed an agreement with French Minister Delegate to the Minister for Europe and Foreign Affairs Eleanor Caro, in the field of promoting youth opportunities, research and innovation. Iraqeconomic analysis

A roadmap for defense capabilities was also signed, in accordance with the letter of intent between the French Ministry of the Armed Forces and the Iraqi Ministry of Defense, to secure military equipment, and then the framework for developing Iraqi defense capabilities. It was signed by the Secretary General of the Ministry of Defense, Lieutenant General Engineer Shwan Mazhar Ali Rawanduzi, and the Director General of Armament and Equipment at the French Ministry of the Armed Forces, Major General Patrick Bayo.

Meanwhile, Electricity Minister Ali Saadi Wahib signed a memorandum of understanding with the Chairman of the Board of Directors of the French company Total Energies, Patrick Pouyanné, regarding a gas supply and sale contract.

A declaration of intent for cooperation in the field of civil aviation was also signed between the Iraqi and French Ministries of Transport. It was signed on the Iraqi side by the Head of the Board of Advisors at the Presidency of the Council of Ministers, Youssef Khalaf Youssef, and the Director General of the French Civil Aviation Authority, Chems Chekioua.

Iraq and France also signed a strategic cooperation agreement in the field of air defense between the Ministry of Defense and the artificial intelligence company Harmattan.

Burathanews.com

Maliki’s coalition reveals the real reason behind the dispute with “Sadiqun” and how it ended

Former MP Jassim Mohammed Jaafar, a leading figure in the State of Law Coalition, revealed on Monday details of the resolution of the differences in viewpoints between the coalition and the Sadiqun Movement, confirming that the top leaders had completely settled the crisis.

Jaafar told the Information Agency, “The differences in viewpoints and disagreements that recently emerged between the State of Law Coalition and the Sadiqun Movement have completely ended following direct understandings between the coalition leader, Nouri al-Maliki, and the movement’s Secretary-General, Qais al-Khazali.”

He added, “This new positive rapprochement will have a swift and direct impact on several sensitive issues under discussion within the coordination framework, all of which aim to improve the performance of the al-Zaidi government. Foremost among these issues is finalizing the cabinet.”

Regarding the behind-the-scenes details of the crisis and its true cause, Jaafar explained that “the previous disagreements were not due to fundamental or personal differences between Maliki and Khazali. Rather, the real reason stemmed from the arguments and disputes that occurred between members of the two blocs and their political analysts through the media, which negatively impacted the situation and portrayed the crisis as a crisis at the highest leadership level.”

Almaalomah.me

An expert discusses a crisis deeper than the decline in oil prices in Iraq.

On Monday, economist Manar Al-Obaidi warned of the repercussions of the International Monetary Fund’s prediction that the Iraqi economy would contract by 6.8% in 2026, stressing that the problem is no longer limited to the decline in oil production and exports, but extends to the structure of the non-oil economy. Dailynews subscription

Al-Obaidi said in a post he published on social media platforms that the non-oil economy is still largely linked to the government sector, which in turn depends almost entirely on oil revenues, indicating that the decline in these revenues is reflected in government and investment spending, market activity, demand and job opportunities.

He explained that non-oil activity has been subjected to multiple pressures during the past period, including stricter procedures and customs duties, higher costs of commercial activity, a decline in some forms of agricultural and industrial support, weak financing incentives, as well as the limited ability of Iraqi companies to access foreign markets.

He added that most companies still rely on the local market, which means that declining consumer confidence in the economy and reduced spending directly impact sales, investment, and expansion.

Regarding bank financing, Al-Obaidi believes that the banking sector alone is no longer able to lead the expansion of the private sector, noting that the decline in confidence in banks after the recent measures taken against a number of them, along with the government’s increasing reliance on bank financing, is pushing banks towards less risky government financing and reducing their appetite for financing private sector projects.

He stressed that supporting the private sector in the next phase depends primarily on increasing the volume of new local and foreign investments, and opening financing channels that do not depend on banks alone.

He pointed to the importance of activating the Iraqi stock market, encouraging the listing of a larger number of companies in different sectors, in addition to legislating the legal frameworks for investment funds and facilitating the entry procedures for local and foreign investors.

Al-Obaidi concluded by saying that “the real challenge facing Iraq is not only how to get the output back to growth after 2026, but how to build a private sector that can obtain capital, expand and create jobs, even when the state’s ability to spend declines.”

Shafaq.com

The Ministry of Finance sets a date for sending the 2027 budget to the Iraqi Parliament.

The Ministry of Finance intends to send the draft general budget law for 2027 to the House of Representatives on October 15, according to Jamal Kojar, a member of the parliamentary finance committee. Dailynews subscription

Kojer told Shafaq News Agency that Finance Minister Falih Sari informed the committee that the budget law will reach the House of Representatives on October 15, according to the timelines established in the Financial Management Law.

He added that the price of a barrel of oil in the budget has not yet been decided, indicating that the proposals range between $50 and $65 per barrel, with a difference of opinion between the State Oil Marketing Company (SOMO) and the government regarding the approved price.

For its part, an official source told Shafaq News Agency that the Ministry of Finance is studying SOMO’s proposal to calculate the price of a barrel of crude oil in the budget law at $55, while the ministry and the government have a different opinion.

The source explained that the government may resort to a compromise solution by calculating the price per barrel between $60 and $65.

Regarding the regularization of contracts and the appointment of long-serving graduates, Kujer said that the Prime Minister and the Minister of Finance promised the various segments of society that contracts would be regularized and long-serving graduates appointed, but the country’s economic situation will be the decisive factor in this matter.

In this context, MP Aziz Nasser reported in a post on social media that Parliament Speaker Hebat Al-Halbousi confirmed during a meeting with a number of MPs that all contracts in ministries and institutions will be included in the 2027 budget.

Shafaq.com

Fagin to Barzani: We support an Iraq free of armed forces outside the authority of the state.

On Monday, leader Masoud Barzani discussed the situation in Iraq with the US Chargé d’Affaires, Steve Fagin, who affirmed his country’s support for an Iraq free of armed forces outside the framework of the state. Dailynews subscription

Barzani’s headquarters said in a statement that during the meeting with Barzani, Fagin expressed his happiness at returning to Iraq to take on a new mission and to visit the Kurdistan Region, expressing his hope that he would be able to continue working for a longer period.

According to the statement, Fagin affirmed that the United States supports Iraq and the Kurdistan Region in order to maintain security, stability, and the economy, stressing the importance of coordination among the parties to protect Iraq’s sovereignty and strengthen Iraq’s relations with the countries of the region and the international community.

He also stressed that any threat to Iraq’s security is a threat to everyone, and that Iraq and the Kurdistan Region, through coordination between them, can play a good role in this area.

Fagin added that the United States supports an Iraq in which militia forces are not armed outside the authority of the official government, thus providing an opportunity to achieve political and economic stability.

For his part, Barzani warmly welcomed the US Chargé d’Affaires in Iraq on the occasion of his return to Iraq and his visit to the Kurdistan Region, and congratulated him on his return, stressing that the Kurdistan Region has always been and will always remain a factor for stability.

Barzani also noted the success of the Iraqi Prime Minister, stressing that the Kurdistan Region supports any cause that contributes to stability, the Iraqi constitution, and confronting terrorism. He also explained that the region supported the Iraqi Prime Minister in confronting corruption, expressing his hope that these joint efforts would continue.

Regarding the situation in the region, Barzani pointed out that peace is always better than war, dialogue is better than confrontation, and understanding is better than discord and tension. Therefore, he emphasized that the Kurdistan Region has always been part of the solution, not part of the problems plaguing the region.

Shafaq.com

Syria opens the doors to natural uranium: 73 tons under the supervision of the International Atomic Energy Agency.

Syrian Foreign and Expatriates Minister Asaad al-Shaibani confirmed on Monday that Syria has opened the Deir ez-Zor site to the International Atomic Energy Agency, noting that 73 tons of natural uranium are now under the supervision and guarantees of the agency. Financialnews alerts

Al-Shaibani said, during a speech before the 70th session of the General Conference of the International Atomic Energy Agency, which was followed by Shafaq News Agency, that Damascus “opened the doors of the Deir ez-Zor site so that the Director General would be the first to set foot on its land on August 16, after nearly two decades of tight closure.”

He added: “We started, together with the agency’s experts, to lift the reactor remains from under the layers of reinforced concrete,” noting that Syria had taken the initiative to provide “all the design information and nuclear inventory reports that the Council had been demanding since 2011.”

He explained that “73 tons of natural uranium are now under the supervision and guarantees of the agency and will remain safe in Syria.”

Al-Shaibani said that “the new Syria that is addressing this heavy legacy is radically different from those who caused it,” stressing that “transparency for us is a firmly established sovereign approach and a permanent strategic decision.”

Al-Shaibani had announced that the Board of Governors, on September 9 and by consensus, had dropped the item of non-compliance and removed it from its agenda, considering that this step “closes an era that lasted 15 years to begin a new chapter that closes the page of doubt and opens the door to certainty and cooperation.”

He pointed out that Damascus had taken, on July 17, “an independent sovereign decision,” and had sent an official letter to the agency disclosing the presence of nuclear materials at an undeclared site, before signing a memorandum of understanding with the agency on the 29th of the same month, coupled with a roadmap for peaceful uses.

In a related context, Al-Shaibani said that the roadmap signed with the agency “has entered into actual implementation,” explaining that Damascus is looking forward to using nuclear medicine to treat cancer patients, and isotope technologies in agriculture, water resources and scientific research.

Al-Shaibani called for the Middle East to be free of nuclear weapons and other weapons of mass destruction, saying that Syria “provides a model to be emulated” and puts its expertise at the service of any country facing a similar challenge.

On the Israeli issue, Al-Shaibani accused Israel of continuing to “violate Syrian sovereignty and target our lands,” considering this a breach of the 1974 Disengagement Agreement and international laws, and called on the international community to exert “effective and firm diplomatic and international pressure” to stop what he described as systematic attacks.

He stressed that regional stability depends on Israel’s commitment to returning to the 1974 agreement and withdrawing completely to the lines prior to December 8, 2024.

Shafaq.com

The Minister of Finance emphasizes the importance of building effective trade partnerships and benefiting from international expertise and experiences.

Faleh Sari affirmed that the government is committed to supporting the private sector and expanding its role in the Iraqi economy, and to creating an investment environment capable of attracting quality companies and investments.

A statement from the Ministry of Finance said that “Finance Minister Faleh Sari received, on Sunday, a delegation from the Iraqi-British Business Council, headed by Baroness Emma Nicholson, which includes a group of Iraqi and British companies, where investment opportunities in Iraq and the possibility of expanding economic partnerships between the two countries were discussed.”

Sari explained that “the Ministry of Finance is working on diversifying the economy and providing the necessary facilities for the local and international private sector. He also stressed the importance of building effective business partnerships and benefiting from international expertise and experience in implementing priority projects.” Financialmarket updates

For her part, Baroness Emma Nicholson expressed the Iraqi-British Business Council’s interest in expanding the activities of Iraqi and British companies in Iraq and strengthening communication between them, thus creating new opportunities for partnership and investment in various sectors.

Burathanews.com

Interior Minister: Partial resumption of oil production in the Kurdistan Region and its protection from drones is a condition for companies

The Interior Minister of the Kurdistan Region, Rebar Ahmed, confirmed on Thursday that some oil companies operating in the region have resumed crude oil production in Kurdistan’s fields, while others remain shut down due to not receiving the security guarantees they are demanding. Financialnews alerts

Ahmed told reporters in Erbil, including a correspondent from Shafaq News Agency, that the companies did not receive those guarantees of providing anti-aircraft defenses to protect them from drone attacks, indicating that there is partial oil production in the region and exports go to the market.

The oil fields in the Kurdistan region were subjected to shelling by armed factions throughout the escalation of security and military tensions in the region, which led to oil companies suspending their operations and leaving the region.

After a period of relative calm, the federal government met with the regional government and company representatives, who in turn demanded that Baghdad secure the airspace to prevent a recurrence of such attacks, a demand to which Baghdad has not yet responded.

Regarding the withdrawal of the international coalition forces, the minister said that, according to the agreement concluded between Baghdad and Washington, those forces will withdraw from Iraq at the end of this month, and have already begun the daily withdrawal process from the country, including the Kurdistan Region, adding: “It is expected that no foreign forces will remain by the end of September.”

He explained that the issue of security and stability in Iraq requires cooperation and joint coordination with partners in the international coalition, federal forces, and regional forces, all of whom have an interest in establishing security in Iraq. He expressed his opinion that communication with the foreign forces participating in the international coalition should continue after their withdrawal, explaining that the issue of security is indivisible and is a general concept, and Iraq still needs the help of these friends.

Shafaq.com

The Kurdistan Regional Government details the results of its negotiating delegation’s talks with the Ministries of Finance, Planning, and Oil in Baghdad.

The Kurdistan Regional Government announced on Thursday that its high-level negotiating delegation, which is currently visiting Baghdad, began its work program and meetings with the relevant ministries in the federal government on September 9, with the aim of participating in the preparation and drafting of the draft federal budget law for 2027, and establishing the region’s constitutional and financial share and entitlements.

The regional government stated in a statement that the first meeting was with the federal finance minister, where the delegation held a meeting with the federal finance minister and acting planning minister, Faleh al-Sari.

During the meeting, the delegation from the region appreciated the participation of representatives of the Kurdistan Regional Government in the drafting stage of the draft budget law at the Federal Ministry of Finance as an important and positive step, and reviewed the Kurdistan Region’s visions and proposals regarding the draft law.

In this context, the need to establish the share and entitlements of the Kurdistan Region in a fair manner and on constitutional and legal grounds was emphasized, with the aim of establishing a stable and clear basis for regulating financial relations between the federal government and the regional government.

For his part, the Federal Minister of Finance welcomed the participation of the region’s delegation and stressed the importance of continuing dialogue and coordination. He also affirmed that the Federal Ministry of Finance, in light of the constitution and relevant laws, will deal fairly with the financial rights and entitlements of the Kurdistan Region.

The next meeting was with the Federal Ministry of Planning, where a delegation from the regional government visited the Federal Ministry of Planning, and a joint meeting was held with the attendance of the undersecretaries of the Ministries of Planning in the Federal Government and the regional government, and the directors general concerned with government investment.

During the meeting, the delegation from the region stressed that the Kurdistan Region deserves its share of investment project allocations according to the results of the latest general population census, as well as allocations for regional and provincial development projects and petrodollars.

The delegation also demanded that the Kurdistan Region be granted its share of international loans, aid, and grants, since the region bears, according to its share, the responsibility for repaying these loans and their interest; and on this basis, it should receive shares of them and their benefits.

For its part, the delegation from the Federal Ministry of Planning welcomed the proposals and expressed its readiness to discuss them during the preparation of the draft budget law, and both sides agreed to continue technical and legal coordination in this area.

Meeting with the Federal Ministry of Oil

This was a continuation of the visit program, as the Kurdistan Regional Government delegation visited the Federal Ministry of Oil and met with its minister, the undersecretary of the ministry, and the relevant directors general.

The meeting agenda was dedicated to discussing the paragraphs related to the oil sector in the draft federal budget law for 2027, including the total estimated quantities of oil allocated for export (including the fields of the Kurdistan Region), the estimated price per barrel of oil for the fiscal year 2027, and the quantities of oil allocated for domestic consumption.

The regional delegation confirmed that the oil produced in the region and designated for export will be delivered to SOMO, to be sold in global markets and its revenues transferred to the federal treasury; this constitutes an important step to enhance cooperation between the two governments and increase federal revenues.

For his part, the Federal Minister of Oil and the ministry delegation welcomed the observations and suggestions, and stressed the importance of continued coordination and joint work to reach a balanced and practical formulation of the oil items in the 2027 budget, in a way that ensures the continuity of oil production and export.

The meetings emphasized resolving common issues through dialogue, coordination, and adherence to constitutional and legal frameworks, with the aim of securing the rights and entitlements of the Kurdistan Region in the 2027 federal budget bill and strengthening financial and economic cooperation between the regional government and the federal government. Economicanalysis reports

The Kurdistan Regional Government delegation stressed the region’s commitment to fulfilling its constitutional and legal duties and obligations, while emphasizing the federal government’s responsibility to provide and secure the Kurdistan Region’s financial and constitutional share and rights, particularly the salaries and entitlements of the region’s employees, in a fair and equal manner to their counterparts in the rest of Iraq.

Shafaq.com